Comments on: Giant bus station in new rail hub? http://www.miamitodaynews.com/2013/10/16/giant-bus-station-new-rail-hub/ The Newspaper for the Future of Miami Thu, 11 Sep 2014 17:30:26 +0000 hourly 1 http://wordpress.org/?v=3.9.2 By: Matt Lechner http://www.miamitodaynews.com/2013/10/16/giant-bus-station-new-rail-hub/#comment-350 Sun, 10 Nov 2013 08:30:52 +0000 http://www.miamitodaynews.com/?p=18516#comment-350 The municipality clearly should NOT allow Florida East Coast Industries to assume some kind of preferred vendor role in this project. FECI is a firm that has become an over-fed corporate bully, with management having somehow migrated in from Lehman Brothers, and their role in any municipal project should be put under a very bright light before any commitments are made. When the wheat is separated from the chaff, Florida East Coast Industries is a rather mean-spirited and sharp-elbowed port operator. Furthermore, they are the managing agent for a real estate transaction effected by an offshore buyer (for the Bacardi Building in Coral Gables) which, as was reported in the press, a false figure was reported to the tax office as to the amount of consideration. That is a widespread problem in Florida, however, for a firm that wants to be a big municipal contractor and/or financier, the city can not allow them to be using their influence to help offshore investors report false consideration (purchase price) figures to the local land office. (see DailyBusinessReview.com 12/14/2009). The story details how a false deed was recorded (false with respect to the amount of consideration) and Flagler was directly involved with that, and Flagler is part of Florida East Coast Industries. Recording a false deed is a pretty ripe thing for a big company to do, and perhaps it reflects the corporate DNA of Lehman Brothers that has unfortunately tainted the firm.

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